I have have had a "long term care" insurance policy for about fifteen years, but the company is leaving the? - long term care insurance questions
Business and the replacement policy will have almost three times a lot of costs. How can I decided to simply remove it or pay for expensive new policy? I think the main reason for a policy of long-term care is for my children and protect their heritage. Should I pay large sums to protect them now, "Tomorrow?" I hope more people will answer this question, people who are in the same situation I am in how you have dealt with this problem? "
Saturday, January 23, 2010
Long Term Care Insurance Questions I Have Have Had A "long Term Care" Insurance Policy For About Fifteen Years, But The Company Is Leaving The?
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20 years or more insurance companies are looking to cover long-term care as a producer of real money, because the policy pay for today, but the information should not be paid until many years.
Problems began when the insured person, who had caused the payment of their premiums for year began to seek the benefits of the policy. What are the insurance companies to underestimate the time, as the cost of medical care increases over the next 20 years and live as long as the Americans.
Insurers acknowledge that they had underestimated their exposure, and dove are increasing their policies to another company or dramatic maintenance policy, but the premium.
What should I do? If you are still healthy and can benefit from a new policy you want to check the market for replacement coverage. Although the new premium is three times as much as they did not bother to expect that, save lots of money because the company is now fully aware of the loss of exposure with which they are facing and exactlyE Premium. However, you can create a policy with features that benefit, which in its current policy was available.
Weigh on the other hand, if you can not a new policy, the costs and benefits. After the benefits of having bought them, I suspect it would be better to maintain the coverage of the long-term care, despite the higher premium, as it continues to meet its goal, to protect their children .. Inheritance
Less than 10% of respondents never enter a nursing home long term. There are thus 90% chance that he never a payment from this policy.
There are a variety of ways, the wealth on to their children. You may apply to any gift of $ 10,000 per year tax free. Gradually you can have a significant amount of capacity on each gift. You can also is a trust for your benefit and the transfer of assets. Talk to a lawyer specializing in trusts and estate planning, if you need information.
Talk to your agent. If the company is no longer active, the Commissioner of Insurance of the State should the policy needs to be moved to a new company - you should not of increase.
When you order, however, is why we see are the rising rates.
Talk to your agent. If the company is no longer active, the Commissioner of Insurance of the State should the policy needs to be moved to a new company - you should not of increase.
When you order, however, is why we see are the rising rates.
You need to evaluate the cost-benefit policy. If the cost seems too high, then an alternative would be to consider estate planning options that preserve the heritage for their children.
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